Two payment companies removed from official register

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Two businesses handling payments and transfers have had their entries in the official register of Latvia's financial regulator removed, it was announced September 3.

"TransferMoney" Ltd. and "WPS" Ltd have been removed from the Payment Institutions Register, meaning they no longer have the right to process payments, said the Financial and Capital Market Commission (FKTK) in a brief statement.

The two payment institutions had no liabilities to any clients, FKTK added, and had themselves decided to withdraw from offering payment services. TransferMoney had been on the register since 2013 and WPS since 2011.

The responsible person listed for TransferMoney is Dzintars Risters, an insolvency administrator who was talking in upbeat terms about the business' future a year ago.

The responsible person listed for WPS is Dina Morozova, a lawyer who previously worked at ABLV bank for seven years until 2012 according to her LinkedIn profile.

15 registered and three licensed payment institutions continue to operate in Latvia and are listed at the FKTK website where there is also a list of companies that have had their registration cancelled.

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